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The Scottish Hospital Trust (Transfer of Property) Regulations 2004
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- Scottish Statutory Instruments
- 2004 No. 46
- Regulation 4
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Share of each Health Board in Trust Property
4.—(1) Subject to paragraph (2) the share of each Health Board specified in column 1 of the Schedule in the Trust property, except in any endowment or other property (and accumulated income thereof) held by the Trust by virtue of paragraph 4(e) or (ea) of Schedule 6 to the 1978 Act, shall be the percentage share specified in column 2 of the Schedule.
(2) The percentage share referred to in paragraph (1) shall be the percentage share of the capital value of the Trust property as at 6th February 2004 but expressed as a percentage share of the capital value of the Trust property taken as 100% and not as the capital value of the Trust property expressed in pounds Sterling.
(3) In the event that the capital value of the Trust property alters between the 6th February 2004 and the date of the main transfer or the supplementary transfer, the share of each Health Board shall be that same percentage, but the percentage shall be of the actual capital value of the Trust property when it is transferred.
(4) Should any capital be received prior to 6th February 2004 which requires to be added to one or more endowment or endowments, the percentage shares specified in column 2 of the Schedule shall be adjusted in proportion to the value which the additional capital bears to the total capital value of the Trust property, as at the financial month end immediately preceding the date of that addition.
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